Quote:
Originally Posted by clyde
May 11 update...
Carvana is buying cars again. Today's offer is $15,333. It's not enough to make me sell it, but I'm a bit apprehensive that it won't get any better than this.
New 2019/2020 inventory is very limited with only about 14 cars appropriately configured cars available within 500 miles. On May 1, there were 19 cars. 35 on April 4. There are a few used available and about a dozen have come up and sold in the past 40 days, some of them with very attractive asking prices.
Incentives have continued to be bad in April and May and given how the remaining ones are selling, I don't expect an improvement for June. The Mustang conquest rebate went away at the end of March and has not returned (of course), so it doesn't really matter that I still don't have the lien release to be able to transfer the title to my name.
The SCCA is trying to get the national Solo program going with a couple events in June (Charlotte, NC and Peru, IN) that I will not attend (if they happen, which they probably won't). The outlook for the rest of the season feels the same...even if they have national events, I do not think I will be participating unless the virus disappears or they find a fully effective cure/vaccine in time. Not sure if I'll do any local events either.
So, I don't have a lot of motivation to change cars NOW NOW NOW and I'm looking at how to switch cars in the most cost efficient manner.
Where used ones were not discounted much from new a few months ago, that seems to be changing. The used ones popping up have asking prices a lot lower than before...and they're selling almost immediately. If that buying appetite is sustainable, used prices will probably go back up. If not, they'll hold steadyish or drop some.
Meanwhile, the new car prices will likely hold steady at their "higher than I want to pay" level and I don't see that changing anytime soon.
Not sure what I want to do. And I keep glancing over at C7 GS cars...
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Well right now inventory is declining and not being replenished. When the factories crank back up again, even at a limited clip, I think you'll see the prices on new ones fall/incentives appear.
I think come summer/fall the companies will be a very different mood about trying to make a deal.